Governo avança com privatização de 49,9% da TAP

[MKlop]

O Sr. Paulson terá, neste 2º/3º quadrimestre adquirido 500 mil acções da Potash...como se pode ler no artigo abaixo.

(eu optei por entrar curto: antes e depois da decisão do governantes Canadianos. Entrei mal inicialmente, mas espero redimir-me agora)


http://www.zerohedge.com/article/paulson-sells-large-portions-bofa-citi-wells-jpm-dumps-all-goldman-adds-500000-potash-merger

[LTCM]

bom dia foristas,

com a correcção que se antecipa(?) nos mercados e com a retirada da proposta da BHP, poderá ser uma boa entrada curta na Potash ?

BHP Billiton Ltd (BHP.AX)
Bye Bye Potash, Hello Buyback

Potash Deal Dead — BHPB has officially withdrawn the Potash Corp. bid after the substantial concessions offered were insufficient to get Investment Canada
approval. The failed bid cost US$350m, largely US$250m in fees related to the US$45b debt facility, which will be an exceptional item in DH10. Reactivation of the US$4.2b buyback last active before the failed RIO bid, which cost US$450m,
has also been announced. BHPB is Buy rated with a A$50/share target price.

Investment Canada Hurdle — Highlighting that the Investment Canada rejection of BHPB’s bid was political rather than economic, BHPB has disclosed that it was prepared to commit US$450m to exploration on top of Jansen spend, US$370m
on infrastructure and forgone tax credits from Jansen capex. For 5 years it would have also remained within Canpotex, maintained employment at current mines and increased overall employment in Canada by 15%.

US$4.2b Buyback — Reactivated US$13b buyback was last active in late 2007 before the bid for Rio Tinto was launched, and US$4.2b is left remaining.
Buyback was being executed on-market in Plc line and we expect this will continue with the spread sitting at ~15%, higher than the ~12% discount typical for off-market buybacks in Australia. If the shares are bought back at current prices by 30 June 2011 it would be 2-3% accretive in FY12.

What's Next — With US$40+b in EBITDA for the next 4 years, and notional net debt, BHPB has the ability to spend US$15+b in capex, US$5-10b/year on buybacks, US$5-10b on smaller scale M&A and still maintain a conservative balance sheet. We therefore expect further top ups to the buyback pool as the
residual is depleted. History shows that the buyback can always be put on ice if a larger M&A deal comes along.

Citi Investment Research & Analysis

[61.8]

bom dia foristas,

com a correcção que se antecipa(?) nos mercados e com a retirada da proposta da BHP, poderá ser uma boa entrada curta na Potash ?